IMPORTANT RESISTANCE LEVEL : 1250
TARGET : 1250/1900
VIEW CHANGES BELOW : 899
TIMEFRAME : 3 months (trading) ; 15 months (positional)
While ICICI bank has moved lower once again after moving close to 1200-1250 resistance range recently, its overall long
term structure remains bullish with the scrip having tested its long term support line a few months ago. The scrip though
remains one of the stronger banking stocks and shows a strong consoldation since the past many months. A clear
breakout though will be confirmed once the banking giant moves beyond 1250 when a target of 1900-2000 will come into
picture in the long term. 1000-950 is a strong support range for the scrip and the scrip can be accumulated in this range
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TARGET : 1250/1900
VIEW CHANGES BELOW : 899
TIMEFRAME : 3 months (trading) ; 15 months (positional)
While ICICI bank has moved lower once again after moving close to 1200-1250 resistance range recently, its overall long
term structure remains bullish with the scrip having tested its long term support line a few months ago. The scrip though
remains one of the stronger banking stocks and shows a strong consoldation since the past many months. A clear
breakout though will be confirmed once the banking giant moves beyond 1250 when a target of 1900-2000 will come into
picture in the long term. 1000-950 is a strong support range for the scrip and the scrip can be accumulated in this range
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